Don't start your day by checking the price of bitcoin in the morning. - page 4.

conected

hero member

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Quote from: trader_999 on October 10, 2018, 04:14:28 AM

Quote from: Zrs on October 10, 2018, 03:54:51 AM

I am not regular trader but still I check the price daily. For daily trade and for sort term trade, it is important to check the price frequently. As I am not that kind of trader, I will follow your advice.

I have stop with checking the price of crypto on daily basis. Sometimes its a just a waste of time while you are not a daily trader. For long term purposes I have setup a mobile signals of price movement in both sides.

- Although we may not be a day trader but I still think that checking the price of crypto or bitcoin every day is a good thing, it is not a waste of time as you think, it is very useful and serves a lot for investing and trading. Many people always think that checking in the morning will affect the mood of the day, it may be right or wrong depending on one's thinking but we should think about the case if we do not check the price per day, we will not know the volatility and movement of the market, and that makes us very passive and has no plans for different situations, so if you want that to not happen, check the price in the morning then you can be comfortable and think all day

jekquenkinkas

member

Activity: 167

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I see the price of bitcoin every morning, hoping the price starts to improve so that what I invest gets profit and makes the mind comfortable because our assets are not reduced,
may be different from those of you who have good mentality as holders.

dablatair

member

Activity: 324

Merit: 15

Hello,

I personally look from time to time now that I understood that it will not change something to look every 5 minutes ! Except for the traders of course.

At the beginning of my invest, i did this and it is really better now to don’t worry.

spadaccino

jr. member

Activity: 183

Merit: 2

Really bad routine to do. I also suggest you never check before 5/6 months either; the infalction it has in these days it'a just something incredible so if you suffer from heartbrake or something this is not your game mate. Choose for changing the world and privacy about protect yoursef from govs, agency and coorps. You have the duty and the possibility to do that: choose to protect yourself before everything. Go privacy

Thor....

newbie

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I check the price daily. For daily trade and for sort term trade, it is important to check the price frequently. As I am not that kind of trader, I will follow your advice

Lite1992

copper member

Activity: 182

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Checking the price I think is necessary when you decide to buy Bitcoin. Then yes, it is worth seeing, suddenly in a few days it will be in a drawdown. And so put an order for sale and wait. When bitcoin is sold, I think you will find out

letsfly

member

Activity: 350

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I agree with not checking the price of bitcoin in the morning , specially when you wake up. It might ruin your day. Check it maybe in the afternoon when your day is about to end. Also dont check it before you sleep or you might not be able to sleep hehe

Toukexx99

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Activity: 192

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Quote from: CryptopreneurBrainboss on October 10, 2018, 12:45:24 AM

Many investors get addicted to checking the price of bitcoin first thing in the morning whether it be they're semi-holders or HODLERS (aiming to hodl for a very long time) . I read somewhere in respect to the stock market stating that, 'many investors day is determine by the price of his/her investment, leading to a great start if the price is up and bad start if price is down", because they checked the price of their investment first thing in the morning.
Although this information was based on the stock market, I know it also occurs in the Crypto market therefore I decided to give this advice here to benefit members of this forum, "avoid checking the price of bitcoin immediately you wake up in the morning, by so doing you're subconsciously programing your brain to response based on the price of bitcoin daily and these isn't good for your health. there's no gain in having wealth without health because health is wealth.

Question for viewers, if an investor is struggling with this addiction (checking the price of bitcoin daily), what steps do you suggest he uses to overcomes it.

Edited: this is an advise to investors not day traders, findings have shown that day traders don't live long and majority of them develop High blood pressure over time.

Edited: advise is for bitcoin not some shitcoin wanna be bitcoin, if you invest in any of those, please check them every 5mins for that big pump so you dump lol Grin

yeah maybe that can happen to the people who have been holding bitcoin since last year. I have experience that checking bitcoin every hour every minute and every day to see the bitcoin market.
every day I experience anxiety whether I have to sell it or hold it back?
will the price go up or down?
but for now I just have to wait until bitcoin reaches the top again.
it's true that you don't check Bitcoin prices every time, it will cause you to experience stress.

bitfocus

member

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as a Long Term Holder, i dont act like everyday traders about my BTC. I am gonna hold my BTCs for a decade at-least.

larrylegend33

member

Activity: 280

Merit: 10

Actually its something that i never want it but usually when i get up in the morning i am checking it from coinmarketcap. Many times i told myself don't do this but i always do.. Ones i kept my word and didn't look to marketcap or my wallet for 2 weeks and i had very big lost that time. One of my coins went up like %300 and i couldn't see it and could make lots of money. So yes i am looking it because i have to otherwise i can loose it again.

Slow death

legendary

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Leading Crypto Sports Betting & Casino Platform

Quote from: CryptopreneurBrainboss on October 10, 2018, 12:45:24 AM

[...]

I'll give an example of my case, when I wake up I check the prices of bitcoin and altcoins and check more than 7 news channels, I do it every day. then I do my things in real life, but always following the prices of bitcoin, altcoins and the news. But why do I do this? I do not do it for vice, I do this because my money is at stake and the cryptos market moves based on the news, and it is possible that an altcoin that has a price of $100 falls to the point of having the price of $3, You should have seen the case of bitconnect.

Quote from: CryptopreneurBrainboss on October 10, 2018, 12:45:24 AM

Edited: this is an advise to investors not day traders, findings have shown that day traders don't live long and majority of them develop High blood pressure over time.

Quote from: coinwizard_ on October 10, 2018, 02:09:36 AM

For day traders it is important to check it early otherwise they can miss the run of the day.

Dude, this does not just have to do with day trade, have you seen how many ICOs become a scam every day? Have you seen how many altcoins fall a lot in price from one hour to another because Dev is a damn scammers? Are you going to invest in an altcoin and stay relaxed to the point of not keeping up with prices every day? even bitcoin can fall a lot in just hours. this is a market that forces people to keep up with prices all the days.

Quote from: Maricel2017 on October 10, 2018, 01:43:33 AM

I think we cant escape looking bitcoin value every time we woke up in the morning...

I agree

Mpamaegbu

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Once a man, twice a child!

Quote from: CryptopreneurBrainboss on October 10, 2018, 12:45:24 AM

Edited: this is an advise to investors not day traders, findings have shown that day traders don't live long and majority of them develop High blood pressure over time.

Whether traders or investors, this advice is easier said than done. The reflex to always take a peep in one's object of interest shouldn't be seen as a bad practice. This is normal and people should indulge it if they so desire. I used to be caught up with that anxiety in the past but I am a bit relaxed now checking it. This is a beginner's undoing most times. For instance, there was a time one could check price and felt it was going down only to sell off and price rebounds to a higher high. But if one didn't anxiously check it at intervals one wouldn't exit the trade at such a time.

Choyor

full member

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Seeing or checking prices or market charts I think is important If we invest short-term, but other things if long-term investment, we can see it in just a few moments.

Sadlife

sr. member

Activity: 1400

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Some of us needs to know and look for the current price especially if you're a swing trader who is waiting for an uptrend in order to sell your assets an rebuy when the price goes dip. It's not that we want to look at the market price everyday. We look at it because we need to know.

Nicholson55

newbie

Activity: 76

Merit: 0

I don't think it's about changing the habit - realistically speaking, people are likely going to continue with the behaviour - however it is about responding to it. I think people have to try and respond differently - check the price and if it's down, don't let it ruin your whole day and if it's up, be happy but don't then go and do something foolish because of it. It's about managing emotions and expectations (easier said than done, I know)

Chicksteen

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Activity: 200

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Quote from: giantrobot on October 10, 2018, 03:36:21 AM

This is an interesting idea. However, there are some who consider the examination of Bitcoin prices each morning as their breakfast, indispensable. If not checked they will feel very upset. Having a friend of mine on vacation, he promised to quit his job for a few days to rest, but he kept checking Bitcoin prices every day as a hard habit to give up.

I think it is not bad to check the price of bitcoin every morning just accept the fact that the price is volatile and you cannot expect to much from it to increase the price. It is good to start your day knowing first what change it has on the market for the night. I am also do the same but I do not disappointed on every result and change of price but take it positively by buying some volume at that price when it is lower.

TobiasVR

sr. member

Activity: 626

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investors may check every day just to see the current situation about bitcoin, because now bitcoin has price movements every day experiencing a decrease or increase. but that does not affect investors even though checking every day without making a sale or purchase.

ambisyon

jr. member

Activity: 322

Merit: 1

I usually checked the btc market everyday starting in the morning, afternoon and in the evening just to be updated all the time with the crypto market. It's good to know the current market condition to be aware of what's been happening and to know the market trend direction. At least you will know what to do with your investment and with this situation, investors should analyze the current market condition and do the appropriate thing.

eternalgloom

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Quote from: zazarb on October 10, 2018, 04:09:31 AM

Quote from: CryptopreneurBrainboss on October 10, 2018, 12:45:24 AM

--snip--
Question for viewers, if an investor is struggling with this addiction (checking the price of bitcoin daily), what steps do you suggest he uses to overcomes it.

Edited: this is an advise to investors not day traders, findings have shown that day traders don't live long and majority of them develop High blood pressure over time.

And why checking the price of bitcoin in the morning should be a bad habit? After all, this is a very organic and actionable act for every human being. After all, the fluctuations in the Bitcoin price have an effect on the investor's future. Therefore, I find it helpful to track the price and respond to changes in a timely manner.

Yeah I also don't really see anything wrong with checking the prices every day. I certainly wouldn't call it an addiction, since it doesn't cause you any harm.
Even if you're not a day trader, it's always a good idea to check the prices often.

I mean even as a long-term investor you might want to take some actions in case of a sudden price shift.

audaciousbeing

hero member

Activity: 1330

Merit: 569

Quote from: CryptopreneurBrainboss on October 10, 2018, 12:45:24 AM

Many investors get addicted to checking the price of bitcoin first thing in the morning whether it be they're semi-holders or HODLERS (aiming to hodl for a very long time) . I read somewhere in respect to the stock market stating that, 'many investors day is determine by the price of his/her investment, leading to a great start if the price is up and bad start if price is down", because they checked the price of their investment first thing in the morning.
Although this information was based on the stock market, I know it also occurs in the Crypto market therefore I decided to give this advice here to benefit members of this forum, "avoid checking the price of bitcoin immediately you wake up in the morning, by so doing you're subconsciously programing your brain to response based on the price of bitcoin daily and these isn't good for your health. there's no gain in having wealth without health because health is wealth.

Question for viewers, if an investor is struggling with this addiction (checking the price of bitcoin daily), what steps do you suggest he uses to overcomes it.

Edited: this is an advise to investors not day traders, findings have shown that day traders don't live long and majority of them develop High blood pressure over time.

Whether you check early in the morning, late at night, maybe during the night, it still does not change anything. Only a newbie who is so anxious and not ready to deal with the factual nature of the crypto market would be carried away with the checking of prices every now and then.

Its high time people started to believe that there is no magic anywhere. The underlying reason why someone would be so engrossed with the price of bitcoin is if you are expecting a magic to happen. You want to invest today and expect $500 increase in its price the next hour or the next day. If that is not outright greediness, I don't know what else it can be called. Sometimes when I trade, I buy then put up a sell order to my estimated profit most times this estimated profit is not something I expect to be achieve within the hour and I just lock up on that to come few days later to see how far or better my coins have done. I could have made more money by monitoring the dynamics of the market but I chose to be contended with the profit I have set for myself which every trader should do and with that, you get to have peace of mind.

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